Computing and network technologies have transformed many aspects of everyday life. Computers have become household staples rather than luxuries, educational tools and/or entertainment centers, and provide individuals and corporations with tools to manage and forecast finances, control operations such as heating, cooling, lighting and security, and store records and images in a permanent and reliable medium. Networking technologies like the Internet provide individuals virtually unlimited access to remote systems, information and associated applications.
As computing and network technologies have evolved and have become more robust, secure and reliable, more consumers, wholesalers, retailers, entrepreneurs, educational institutions and the like are shifting paradigms and are employing the Internet to perform business rather traditional means. For example, today consumers can access their bank accounts on-line (e.g., via the Internet) and can perform an ever growing number of banking transactions such as balance inquiries, fund transfers, bill payments, and the like.
Typically, an on-line session can include individuals interfacing with client applications (e.g., web services) to interact with a database server that stores information in a database accessible to client applications. For instance, a stock market web site can provide users with tools to retrieve stock quotes and purchase stock. Users can enter stock symbols and request stock quotes by performing mouse clicks to activate a query. Client applications can then query databases containing stock information and return appropriate stock quotes. Users, based on returned stock quote information, can thereafter purchase or sell stocks by supplying suitable information, wherein submitting buy or sell orders initiate database queries to return current pricing information and order status.
Based on the ever-increasing use of the computer and/or the Internet, numerous transactions related to goods, services, and/or commerce have become common place. Yet, with the vast possibilities of the Internet, a plethora of concerns and/or suspicions can arise for a user and/or client contemplating to purchase an item, good, service, etc. over the Internet. In particular, the reputation or lack thereof related to a seller and/or buyer involved in a transaction is a major concern in light of the various complications that can arise in completing a transaction. Moreover, these Internet consumers and/or suppliers may need additional re-assurance that ensures a particular transaction is to be completed based on a preference, priority, and/or importance.
Current reputation rating techniques are transaction based; they are typically tied to a particular transaction. Furthermore, current online marketplaces including auction sites allow feedback about a buyer or seller at almost any time. In addition, traditional sites typically offer a tit-for-tat rating system where a buyer who gives a poor rating to a seller is likely to receive a poor rating from that seller. Such sites also lack an accurate rating system-users are either super satisfied, neutral, or not satisfied. As a result, sellers usually end up with unrealistically high ratings because most buyers will say that they are satisfied to avoid receiving a negative rating in return.